Updated: October 25, 2021 10:19 PM
Created: October 25, 2021 07:10 PM
The Hmong College Prep Academy Board of Directors has accepted the resignation of the school's superintendent Monday night.
Christianna Hang submitted a letter to the school board last week stating her intention to step down from her role after the Office of the State Auditor found the school broke Minnesota law when making a risky investment in 2019. The move came after State Auditor Julie Blaha found the $5 million investment of public funds wasn't allowed under Minnesota law. The school lost $4.3 million, according to a federal lawsuit it filed against hedge fund, Woodstock Capital.
5 EYEWITNESS NEWS obtained a copy of Hang's resignation letter, in which she cites "serious health issues" and the need to take care of herself "physically and mentally" as the reason for her departure, which will be effective on Dec. 30.
Her letter also states, "This decision has been on my mind for months long before the OSA letter to the School arrived."
Hang made no apologies when she addressed board members Monday night. Instead, she touted her role in fundraising and creating jobs since founding the charter school 21 years ago.
"My heart has been in education all my life. I spent my entire life creating this organization because that's how much I care about this community," Hang said. "I'm just diverting all the negativity away from this school. ... The last thing I'm doing for HCPA is to save this school."
The board also declined to reimburse Hang for her legal costs for now as it moves forward with an internal investigation of the hedge fund investment.
Bethel University, which currently oversees HCPA, issued a corrective action plan for the charter school in August which includes a list of reforms to be made in the coming months.
Board members indicated they will update leadership plans for the school at the end of the week.
Hang declined to answer questions about the hedge fund investment from 5 EYEWITNESS NEWS after Monday night's meeting.
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